Fire1 Receives $25 Million Investment

Fire1, a company working on heart failure, announced that it has received an investment of 25 million dollars. This investment round was led by Novo Holdings and Andera Partners. Seventure Partners, Gilde Healthcare, Lightstone Ventures, New Enterprise Associates, Gimv, Medtronic and the Ireland Strategic Investment Fund also participated in the round. According to the agreement made in the investment round; Eric Snyder, partner of Novo Holdings Venture Investments, and Aneta Sottil, Director of Andera Partners, joined the board of directors of the Ireland-based company.

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Fire1 produces solutions for cardiovascular diseases

Irish startup Fire1 was founded in 2013 by Hanson Gifford. It works towards curing chronic diseases. The company designed its first device for heart failure. Thanks to the device developed by the company, millions of heart failure patients return to their normal lives. The device we are talking about is placed on the vein in the upper part of the leg. The feature of the device is that it has a remote monitoring solution. The heart can be weakened and damaged for many reasons. As a result, heart failure occurs.

It has been observed to affect over 60 million patients worldwide. Especially patients over the age of 65 are often hospitalized due to heart failure. Heart failure is very common worldwide. Only 900 thousand people in the UK have been diagnosed with heart failure. The annual cost of treating the disease is 2 billion pounds.